WASHINGTON, Feb. 17, 2011 /PRNewswire-USNewswire/ -- A total donation of $1 million is being made by the Owens Corning Foundation (OC Foundation) to Charities Aid Foundation America (CAFAmerica) at the direction of Sir Trevor Holdsworth, who passed away in September 2010.
CAFAmerica is a member organization of the U.K.-based Charities Aid Foundation international network of offices, providing charitable financial services to individuals, global corporations, charities, and foundations. During 2011, CAFAmerica will facilitate 1,600 grants to charities in 80 nations around the world, including $40 million in donor advised gifts.
The donation from the OC Foundation is being made under its Directors' Charitable Award Program to benefit educational institutions and charitable organizations. Under the Program, an Owens Corning (OC) director recommends an eligible organization to receive a donation from the Foundation after his or her death. The donation being made in honor of former OC Director Sir Trevor Holdsworth is for unrestricted use by CAFAmerica.
Sir Holdsworth's 25-year career with Smethwick, U.K.-based Guest Keen & Nettlefolds (which became GKN plc) saw the company transformed into a modern leader in the manufacturing of components, primarily for the automobile industry. After retiring from GKN in 1988, Holdsworth served for two years as president of the Confederation of British Industry. He also was a chancellor of Bradford University and a governor of Ashridge management college. Holdsworth was knighted in 1982 and appointed a Commander of the Royal Victorian Order (CVO) in 1997.
CAFAmerica CEO Susan Saxon-Harrold said: "We are very grateful to the Owens Corning Foundation and the family of Sir Trevor for supporting us in this fashion. I had the pleasure of meeting Sir Trevor in his role as Chancellor of the University of Bradford, as I both graduated from the university and worked there at the start of my career. Sir Trevor is well remembered as a business leader and an active supporter of philanthropy in the U.K. and elsewhere around the globe."
The OC Foundation donation will be made in 10 annual payments of $100,000.
The Owens Corning Foundation is a 501(c) 3 non-profit organization based in Toledo, Ohio, U.S. Since its inception in 1978, the OC Foundation has been at work responding to the needs of its stakeholder communities. Established to enhance lives through charitable contributions, it champions programs that provide access to affordable housing and education for those most in need.
Founded in 1992, Charities Aid Foundation America is a member organization of the United Kingdom based Charities Aid Foundation international network of offices, which provides charitable financial services to individuals, global corporations, charities, and foundations. CAFAmerica is dedicated to expanding borderless charitable giving by providing guidance and international grant making solutions for donors and charities. CAFAmerica makes over $40 million in grants to charities in 76 countries around the world. CAFAmerica's range of charitable solutions include: Donor Advised Gifts, Donor Advised Funds, Matching Donor Advised Funds, Designated Funds, bequest planning and 'Friends of' Charity Funds.
SOURCE CAFAmerica, Alexandria, VA